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Stocks

Market Scramble: Capital investments seen haunting tech firms

TOKYO -- Investors are giving the cold shoulder to Japanese companies crafting spending plans with a focus on growth.

Shares of Sharp symbolized such sentiment Friday. After the close of the morning session, the electronics manufacturer unveiled a nearly 60 billion yen ($598 million) investment to set up pilot production lines for OLED screens. The plan represents the troubled company's first positive move in a long while, but the stock failed to draw buying in the afternoon. It ended the day flat at 135 yen a share.

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